LME not an option for European copper processors: Aurubis
Sep 26, 2012 | 12:48 PM
| Mark Burton
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Aurubis LME warehouses,
copper stocks,
copper premiums,
copper concentrates,
copper scrap,
mark burton
LONDON — Copper processors in Europe cannot practicably buy metal for physical consumption from the London Metal Exchange due to low copper inventories in LME-approved warehouses in the region, Aurubis AG said in a monthly note.
The Hamburg, Germany-based copper smelter noted that there are only about 16,000 tonnes of copper in European LME warehouses, and 10,000 tonnes of that inventory are in Vlissingen, Netherlands, where there is a large queue to withdraw metal. "Therefore, the LME is not actually an option for European processors, who rely on physical deliveries from nearby destinations," Aurubis said.....
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